The NEW waiting to exchange thread...

Elle83

Elle83 said:

Congratulations Cookie211!! Really pleased for you.

We hit another hurdle today, buyer's solicitor said we could exchange on Monday IF they had received confirmation of funds from their lender. Was a little disappointed but Monday is better than never. 

Fast forward to 5pm and my solicitor rings me saying they've raised a last minute enquiry saying the environmental search had failed. Had 2 options, first was go to to the LA but there would be no hope of completing on the 10th or yet another indemnity policy. We said we would pay for the policy but our solicitor is annoyed that this has come so late in the day. If it has failed, it needs sorting so no post dwelling. Unsure why it didn't come up when we bought. After googling what they said, it was seem they don't think there is anything of concern but there isn't anything to say there definitely isn't, so the policy covers them. 

Getting stressed now as we would have to pay 50-75% of our total removal cost (+ new removal cost) if we have to change the date - because of this we haven't booked it, but the longer we leave it the higher the risk they won't have space next week to love us. 

Well, we didn't exchange this week as hoped, but the policy satisfied the last minute enquiry so we are just waiting for the buyer's solicitors to receive proof of funds. 
Both sides have sent their deposits to their solicitor, and the buyer's solicitor said they'll have proof of funds on Monday. 

Our solicitor has asked that we email with authority first thing Monday so that they "can get on with exchange". Really hope this is it now! 

Congratulations to all those that have had positive news this week! 

[Deleted User]

Nothing again yesterday 
still no enquiries from buyers solicitors

scottie21

Our sale is almost ready to go through, our survey on our purchase has found foam insulation in the roof. I have no idea where we go from here and what we do about it, as reading the mortgage company may not even lend 😩even though their valuation didn’t flag it up (the loft space was not inspected though as they couldn’t gain access) 

WorriedKirkels

scottie21 said:

Our sale is almost ready to go through, our survey on our purchase has found foam insulation in the roof. I have no idea where we go from here and what we do about it, as reading the mortgage company may not even lend 😩even though their valuation didn’t flag it up (the loft space was not inspected though as they couldn’t gain access) 

Might be worth getting advise from @E_D_FTB as I think they’ve gone through the same process with the house they are buying. There are some earlier posts on this thread about the steps taken. Fingers crossed you can get it sorted🤞x

WorriedKirkels

DeletedUser said:

Nothing again yesterday 
still no enquiries from buyers solicitors

Hopefully no news is good news 🤞

[Deleted User]

WorriedKirkels said:

DeletedUser said:

Nothing again yesterday 
still no enquiries from buyers solicitors

Hopefully no news is good news 🤞

Oh I hope so I’m so fed up of it all

ss2020jd

Latest update is no update. Still no reply from vendor’s solicitors or amended contract to sign after our solicitor chased last week.  He did say we would like to exchange as soon as possible. 

I know the vendors need a couple of weeks between exchange and completion so really hoping we get the contract soon to sign and return so that they can have that and we can all meet the end of the month deadline.
I believe the solicitors will be away on and off throughout this month so that makes the remaining days limited but trying to remain positive. 
 

ss2020jd

WorriedKirkels said:

heartofzinc said:

blueorchid94 said:

heartofzinc said:

Oscarboi76 said:

Exchange and completion day today but still cant get excited as still don't have faith in our solicitor to get the relevant things done. The sellers solicitor and estate agents have both said our solicitor is the worse they have ever dealt with... good luck to anyone else exchanging or completing today.

Feeling the same way currently. Due to complete next Friday but no exchange date and can’t get a hold of my solicitors or the estate agent! 

I could've written your posts, @heartofzinc & @Oscarboi76 - our solicitors are atrocious at communication! Also meant to be completing on the 10th, no clue of exchange date or if it is even going ahead at this point as they're just ignoring us, even though we really need to know either way...

So frustrating isn’t it! I’ve finally managed to speak to someone and they said it’s still happening but still no exchange date just that it will be early next week. 

Same here - completing on 10th but no confirmation of when we will exchange as waiting for the bottom of the chain to confirm funds are in place 😬 x

I am keeping my fingers crossed for you. My solicitor says “exchange just happens” when trying to pin down a date before. Although obviously the insurance needs to be arranged for that day. Hope you get confirmation on Monday. 

HopeAndDriftWood

We had a whirlwind of a day yesterday...

Got called and asked to go to the solicitors to set exchange/completion dates and sign a final piece of paperwork for our purchase yesterday... excitedly drove 2 hours. 

While sitting outside, we are CC'd on an email between our estate agent and our sellers, saying they'll pass up the chain that we're now a few weeks away from exchange at least. Reading back through the chain, our buyer's mortgage valuation on his other property didn't go well last week, and nobody told us. He now intends to get a valuation here instead, but it's not booked in. 

Our seller's seller looks fairly certain to pull out and stay put. Our seller has already moved out, so is debating his options... I'm not sure where he's living right now. He will get back to us mid-next week. 

Still no direct contact from our estate agent. I cried a lot yesterday but now I just feel a bit numb. I don't believe the estate agent ever checked his proof of funds, it doesn't seem that he can afford to buy how he intended to. We've been questioning the mortgage situation throughout, but our estate agent said they didn't know.

We can just about afford to keep going after the stamp duty holiday, but I'll be 32 weeks pregnant, and we'd be out of time (and £5k down) to get the kitchen done before the baby. 

Congratulations to everyone who has got it over the line! And best of luck to everyone hoping for next week. 

nekr0mantik

Rincewindcl said:

nekr0mantik said:

so update on my situation, I spoke to Broker and we decided I will re apply via Halifax instead of Barclays and that application went through yesterday and this morning E Serv were booked for valuation for Tuesday. So far much better experience as Barclays took 15 days for valuation to happen and ended up with Legal and General doing valuation. E Serv I hear are faster at getting report back to lender normally same day as valuation so I hope Halifax gets back to me 24 hours after and its not down valued by 50k or similar again.  

I did exactly the same as you, went from Barclays to Halifax. I had an offer from Halifax in 2 days!!!!

Did you switch because of the large down valuation also? 
Did you get offer 2 days after valuation you mean?